Decision day for the one million floor clause mortgages in Spain that may have paid an average of €25,000 too much

Decision day for the one million floor clause mortgages in Spain that may have paid an average of €25,000 too much

This week, finally, Spain’s Supreme Court will rule on mortgages that were linked to an IRPH rate, more than six months after Europe left it to the Spanish judges to rule on their legality or lack of transparency. While the standard Euribor rate has been negative since February 2016, the mortgages linked to the IRPH have been paying interest at around 2%. It is estimated that the average cost of overpaid interest payments to these clients could be around 25,000 euros each. The Supreme Court validated the use of the IRPH in 2017, but Court number 38 of Barcelona raised a preliminary question to Europe to enquire about the control […]

BREXIT: All you need to know… but were afraid to ask!

BREXIT: All you need to know… but were afraid to ask!

Back in January 2020 the EU Council and the United Kingdom signed and ratified the Brexit Withdrawal Agreement, which contains the highlights regarding how the Brexit affects nationals of the parties who are living in the UK or in the EU territories. In general terms, the said agreement laid down a transition period whereby the things shall basically stay as they are, in order to enable people to make decisions and take measures on time. That is, the transition period buys time in order for those affected (EU citizens who want to stay in the UK and UK nationals who want to stay in the EU) to get the paperwork […]

End to EU free movement in UK a step closer after MPs pass immigration bill

End to EU free movement in UK a step closer after MPs pass immigration bill

British MPs have approved the government’s immigration bill which aims to end EU freedom of movement rules in the UK, one of the key factors that led to Brexit. The measure has now cleared all stages in the House of Commons after being passed by 342 votes to 248 on Tuesday night. It is next due before the upper chamber, the House of Lords. The legislation ends rules that have helped millions of EU citizens to live and work in the UK, and will instead give equal rights to people from outside the bloc. “We’re ending free movement — so people can come here based on their skills, not where […]